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ITA 3775/DEL/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6588 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 9 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 09-06-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DR SHIV SWAROOP SINGH SENIOR
• Assessee Lawyers: AMEYA DADHICH
• Keywords: Set aside
• Section: 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH D : NEW DELHI) BEFORE SHRI ANIL CHATURVEDI, ACCOUNTANT MEMBER AND SHRI KULDIP SINGH, JUDICIAL MEMBER (THROUGH VIDEO CONFERENCE) ITA NO.3775/DEL./2017 (ASSESSMENT YEAR : 2013-14) ITA NO.3776/DEL./2017 (ASSESSMENT YEAR : 2012-13) M/S. CADENCE DESIGN SYSTEMS (INDIA) VS. DCIT, CIRC LE 5(2), PRIVATE LIMITED, BANGALORE. PLOT NOS.57A & B, NOIDA SPECIAL ECONOMIC ZONE, PO NEPZ, NOIDA 201 301 (UP). (PAN : AACCC5680R) (APPELLANT) (RESPONDENT) ASSESSEE BY : SHRI AMEYA DADHICH, CA REVENUE BY : DR. SHIV SWAROOP SINGH, SENIOR DR DATE OF HEARING : 07.04.2021 DATE OF ORDER : 07.04.2021 O R D E R PER BENCH : APPELLANT, M/S. CADENCE DESIGN SYSTEMS (INDIA) PVT. LTD., (HEREINAFTER REFERRED TO AS THE ASSESSEE), BY FIL ING THE PRESENT APPEALS, SOUGHT TO SET ASIDE THE IMPUGNED ORDERS BO TH DATED ITA NO.3775/DEL./2017 ITA NO.3776/DEL./2017 2 09.03.2017 PASSED BY THE COMMISSIONER OF INCOME-TAX (APPEALS), BENGALURU-2, BENGALURU QUA THE ASSESSMENT YEAR 2013 -14. 2. LD. COUNSEL FOR THE ASSESSEE FILED AN APPLICATIO N SEEKING WITHDRAWAL OF THE APPEALS ON THE GROUND THAT THE AS SESSEE HAS OPTED TO SETTLE THE DISPUTE RELATING TO THE TAX ARREARS F OR THE ASSESSMENT YEAR UNDER CONSIDERATION UNDER THE VIVAD SE VISHWA S SCHEME, 2020 AND HAS FILED NECESSARY FORMS 1 & 2 WITH THE TAX DEPARTMENT, WHICH WAS ACCEPTED AND PROCESSED VIDE F ORM 3 ISSUED BY THE TAX DEPARTMENT. 3. KEEPING IN VIEW THE AFORESAID FACTS, PRESENT APP EALS ARE HEREBY DISMISSED WITH LIBERTY TO GET IT RESTORED BY THE ASSESSEE IN CASE DISPUTE IS NOT SETTLED AS PER SCHEME. THE REV ENUE HAS NO OBJECTION WITH REGARD TO THE AFORESAID CAVEAT. CON SEQUENTLY, THE PRESENT APPEALS ARE DISMISSED. ORDER PRONOUNCED IN OPEN COURT ON THIS 7 TH DAY OF APRIL , 2021 AFTER THE CONCLUSION OF THE VIRTUAL HEARING. SD/- SD/- (ANIL CHATURVEDI) (KULDIP SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED THE 7 TH DAY OF APRIL, 2021 TS ITA NO.3775/DEL./2017 ITA NO.3776/DEL./2017 3 COPY FORWARDED TO: 1.APPELLANT 2.RESPONDENT 3.CIT 4.CIT(A), BENGALURU-2, BENGALURU. 5.CIT(ITAT), NEW DELHI. AR, ITAT NEW DELHI.